What is Cryptocurrency?
Cryptocurrency is a digital/virtual asset that is based on a network. It also involves cryptography for securing transactions and it doesn’t rely on banks for transaction verification but rather has its mode of payment solely based on digital entries.
These digital entries are made to an online database describing specific transactions. Therefore, cryptocurrency doesn’t involve the physical exchange of money.
The transactions of cryptocurrency transfers are recorded in a public ledger. And also, it should be noted that the cryptocurrency network is decentralized as it is distributed across many devices globally (although it can get centralized due to situations and amount of subscribers).
In other words, cryptocurrency does not own a central authority but has the ability to exist under various control systems. Lastly, cryptocurrency is stored in digital wallets.
Here is an article on the top 10 cryptocurrencies to buy in May 2022. If you would like to venture into cryptocurrency, you can read more on cryptocurrency, it would help you make a choice on which trading to concentrate on.
However, if you are already a cryptocurrency trader, this piece is for you. Monitor your financial crypto increase this next month by following the top 10 cryptocurrencies to buy in May 2022:
The Binance coin belongs to one of the fastest-growing cryptocurrency exchanges in the world, Binance. The coin however since its launch in 2017 has expanded and is no longer limited to just trading on the Binance exchange platform which was the main aim it was created for.
It can now also be used for of course trading, payment processes, online services, property exchange, and travel booking arrangements. And can be used likewise for the exchange of other forms of cryptocurrency such as Bitcoin and Ethereum.
As of 2017, BNB was priced at $0.11 but has now hit $689 which means its value has increased by 619,000% in about 52 weeks. And according to experts’ predictions, BNB is good to invest in as it has a long potential of adding value to any investment portfolio.
2. SOLANA (SOL)
Solana runs on a decentralized app and has mechanisms that help it process its transactions fast and safe. It was launched in 2020 with a start price of $0.77 but has skyrocketed to around $136 by April 2022. Which ranks its gain at about 17,500%
3. SHIBA INU (SHIB)
Top 10 cryptocurrencies to buy in (May) 2022
Shiba Inu is built to be surplus internationally unlike other cryptocurrencies designed to be scarce. Its users are permitted to possess a large number of it. Shiba Inu started with an ATL of USD 0.000000000056 but later increased by a percentage of 150,000. That is equal to $0.000084.
4. DOGECOIN (DOGE)
Dogecoin just like Shiba Inu is designed to be internationally abundant. With about 130 billion coins in circulation. Since its launch, it has increased over the years to nearly a percentage of 141,000%. The initial price in 2013 was $0.70 but has successful skyrocketed over the years. You should consider investing in this as a passionate crypto trader and investor.
5. UNISWAP (UNI)
Uniswap is one of the most known crypto exchanges with active daily trading and users. Its records over the years make it one of the top 10 cryptocurrencies to buy in 2022. As the token is trading at about 75% compared to its previous all-time high of $44.
6. CARDANO (ADA)
Cardano works like Ethereum in enabling smart contracts and decentralized applications. The start price of Cardano in 2017 was $0.02 but over the years increased to $1.17. This is estimated at a percentage of about 5,750%.
7. RIPPLE (XRP)
The value of XRP is diverse; it can be used in exchanges of different types of currency which also involves fiat currencies and then other types of cryptocurrencies.
The start price for XRP was around $0.0006 but has now increased to $0.83 which is equal to about 13,700% of the increase.
8. POLKADOT (DOT)
Top 10 cryptocurrencies to buy in (May) 2022
Polkadot involves multi-chain technology which allows different blockchains, that is its uniqueness. Its start price was $0.29 with a total token offering of 2.24 million. But later got increased in 2020 to $1.25 in which 342,080 DOT tokens were traded.
This submits to a result of a high percentage of increase in subsequent years. This is the reason it is considered to be on the list of the top 10 cryptocurrencies to buy in May 2022. And also, the following months.
9. COSMOS (ATOM)
The Cosmos price forecast says the ATOM coin has a very high percentage of hitting a new level before the end of the year. This however rings a bell to traders to quickly buy this cryptocurrency in May, and invest in COSMOS. According to some forecast analysts, it might increase by 300% by the end of the year. So, why shouldn’t you invest in May?
10. DECENTRALAND (MANA)
Similar to Binance, Decentraland also enables its users to run other transactions other than just trading coins.
As a Decentraland user, you can get to buy virtual properties and even develop them as real properties and manage the properties online with your income steadily coming to you.
Investing in Decentraland speaks volumes about what the future would give, that is when you do it right. So, it is therefore considered one of the top cryptocurrencies to buy in May 2022. Invest now.
How to buy Cryptocurrency
There are many existing cryptocurrency sites with different procedures for buying cryptocurrency. You can check out some of them and make a choice of whichever one suits your search.
Although there might not be enough details about trading on the sites. This means you can enrol for crypto classes or go on youtube; watch some videos (tutorials) on trading cryptocurrencies, there, you can get enough knowledge to start trading.
However, some of the existing cryptocurrency apps are Binance, BlockFi, Voyager, Coinbase, Kraken and so on. You can check online for more.
Where to buy Cryptocurrency
You can make a choice of any cryptocurrency app to trade in depending on the research you’ve made. When you go on the app, try as much as possible to read the terms and guidelines, then, there, you have your guide to trading.